WHAT IS MY HOUSE WORTH

WHAT IS MY HOUSE WORTH

What is my house worth? Is a question we hear all the time.

Getting an accurate value of how much your house is worth is quick, easy and cheap.

The difficult part is completing a sale and achieving that value. Whatever the valuation, your house is only worth what someone else will pay for it.

How do estate agents value houses?

Estate agent house valuations are generally made by looking at comparable sales. Quite simply, an agent will estimate the value of your home by looking at recent sales prices of similar properties in a similar location.

If you are thinking of using an estate agent to value your property for sale, be careful that they are not over-inflating its value just to get your business.

You could find that if your house is put on the market at an over-inflated price and you may get little interest from prospective buyers and your house may languish on the market for many months.

You also need to bear in mind that often the ‘valuation’ given by estate agents is very different from the likely sale price, which is of course much more important.

In many area’s you will find that actual sale prices are on average 5-10% below asking price, as buyers negotiate with house sellers.

RICS Survey Valuations

You can get an independent house valuation from a professional property Surveyor. Depending on the type of survey you can expect to pay £150 to £500 for the survey and valuation.

Very few people invest the money in this form of valuation unless there is some sort of disagreement on value (divorce) or if an independent value is need to finalise an inheritance.

Can I find out what my house is worth myself?

Yes, the web has huge volumes of property related data that can help you value your home. However there is a danger that there is too much information, making it nearly impossible for most home owners to accurately value themselves.

Since April 2000, the Land Registry has published the sale price of every home sold in England and Wales. Consequently many websites now display sales prices enabling you to look for your own comparables. We recommend rightmove.co.uk.

However the value of your home isn’t just dictated by its postcode! Obviously many other factors such as internal condition and size also play a huge part in a homes value.

Just looking at postcodes and historic sale prices will not give you a realistic value for your home.

Another drawback is that you are always looking at historic data, generally 3+ months old. Particularly in a slow market with few transactions, you are unlikely to find enough recent evidence of sale prices to form an accurate valuation.

Equally, if your house is unusual, or in an isolated location, it will be difficult to find comparables to form your valuation.

Valuing your house is the easy bit

Getting a valuation is relatively easy the problem is actually achieving a sale at that level. A valuation doesn’t give you any guarantees or certainty. If the valuation is wrong there is no come back on the valuing estate agent.

Whatever the market conditions the UK property market is always an uncertain place with transactions generally taking many months. During these more difficult times the whole process of marketing and selling your home can seem impossible, fortunately if you need to sell Quick Move can assist you.

How can Quick Move Now Help?

Quick Move Now will instruct valuations, make a formal offer and buy your home. The whole process from valuation to sale completion is completed quickly, providing you with certainty and a stress free house sale.

As the UK’s leading home buyer we are uniquely placed to free you from the uncertainty and delays of the property market.

Simply call 0800 068 3366 or click HERE to receive your FREE Estimate

 

This content was written by Quick Move Now
Published on 1st January 2015
Last updated on 9th August 2018

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